Stay Up To Date On COVID-19 Business UpdatesMarch 31st, 2020 by Emmariah Holcomb
Several industry businesses and associations have announced additional changes following the continued spread of COVID-19. [DWM] has compiled the most recent company and association announcements below.
Window and Door Manufacturers Association
The U.S. Department of Homeland Security’s (DHS) Cybersecurity and Infrastructure Security Agency (CISA) issued version 2.0 of its Guidance on the Essential Critical Infrastructure Workforce: Ensuring Community and National Resilience in COVID-19 Response over the weekend. The Guidance now includes construction, building product manufacturing and its supply chain as essential critical infrastructure.
This recognition, according to the Window and Door Manufacturers Association (WDMA), is critical to encouraging and supporting state and local jurisdictional determinations to maintain construction and building product manufacturing operations, including supply chains, as essential critical infrastructure.
“WDMA emphasized that not only are these industries primary contributors to the U.S. Gross Domestic Product (GDP) and the economic security of the U.S. as a whole, they are also critical to the collective COVID-19 response,” said Michael O’Brien, WDMA president and CEO. “We also emphasized that maintaining the health of these of industries is essential to the U.S. and global economic recovery from the pandemic.”
Panda Windows and Doors
Panda Windows and Doors in Nevada issued a notice to its clients following an announcement from its Governor, who announced a mandatory shutdown of all non-essential businesses. Fortunately, Panda Windows and Doors was classified as an essential business.
“Panda Windows and Doors is able to continue our production line at full capacity (with enhanced sanitation procedures) and in full accordance with CDC guidelines. In the interest of personal safety and in an attempt to help flatten the transmission curve, we made the decision to have our office staff work remotely,” a portion of the notice reads.
The company also noted supply shortages and has noticed delays in its shipments. The delays are expected to stall the production of many of its projects going forward, according to the company. “Should cease-and-desist orders of non-essential businesses continue, our supply chain will continue to be adversely affected and our projected delivery times will continue to grow,” a portion of the notice reads.
Everlast in Ontario Canada has temporarily shut down as of March 25, 2020 and aims to re-open April 13, 2020.
“Please note that due to the most recent events surrounding COVID-19 and the shutdown of non-essential businesses in Ontario, Everlast has made the difficult decision to shut down operations. We will continue to monitor the situation and communicate any changes should they occur,” according to the company.
Polar Seal showroom manager, Erika Barstis, informed those who tried to reach her that the company will remain closed until April 13, 2020 under the state Governor’s COVID-19 decree. She noted the stay at home order could be lifted prior to that date if conditions concerning the virus were to change.
Jeld-Wen Holding, Inc. (Jeld-Wen) recently announced it has taken proactive steps to safeguard its employees through COVID-19.
“We moved decisively across the enterprise and put measures in place to maintain the continuity of our operations and protect the safety of our associates as we continue to service our customers. We are focused on meeting critical customer needs without disruption, while also complying with the COVID-19-related regulations and restrictions set by local governments,” said Gary S. Michel, president and CEO.
Due to COVID-19 related restrictions, the company temporarily suspended production at locations that cumulatively represent less than 10% of its 2019 consolidated net revenues. Following guidance from the World Health Organization and the Centers for Disease Control and Prevention, the company implemented policies and procedures to maintain safe working environments.
Out of an abundance of caution, the company recently enhanced its cash position by drawing down $100 million on its existing Asset Based Revolving Credit Facility. Reflecting this draw down, as of March 27, 2020, the company had total liquidity of approximately $450 million, comprised of unrestricted cash and cash equivalents of approximately $230 million and approximately $220 million of availability under committed credit facilities.
“We are taking significant austerity measures to preserve cash and address near-term market dynamics,” Michel said. “The strategic actions we have taken with our footprint rationalization and modernization program along with the JELD-WEN Excellence Model, our business operating system, strengthen our position in a volatile market environment and prepare us to deliver long-term value creation once the COVID-19 pandemic subsides.”
PH Tech announced it is shut down until April 14, 2020 in order to follow the government’s guidelines in an attempt to limit the virus.
Huttig Building Products
Hunttig Building Products recently announced its locations across the country are open and operating as normally as possible, while following CDC and OSHA guidelines. The company issued a notice that highlighted the business has been taking precautionary measures to keep its employees, customers and supply partners healthy and safe.
“Our inside and outside sales teams may be remote, but they are there to answer your questions, take your orders and support your business,” a portion of the company’s notice reads.
Erdman Automation Corp.
Erdman Automation vice president Morgan Donohue gave an update to the company’s customers last week.
“We have two sides to our business: equipment sales and parts/service. While we do have continued capital orders, the rate of those orders the last three to four weeks have slowed to approximately one third of the previous year,” Donohue said. “Prior to this, we were on pace with last year, which was our high watermark of 40 million.”
Minnesota’s Governor declared a shelter-at-home for two weeks as of last Friday, and according to Donohue, the company’s sales parts and service will remain open, as it falls under an essential service. Production was stopped las Friday and will be re-evaluated upon the government’s mandate.
If you have a company update you would like to share email newsletter editor Emmariah Holcomb at email@example.com.